Nel ASA, through its subsidiary Nel Hydrogen Electrolyser AS, has announced a technology licensing agreement with Reliance Industries Limited (RIL) for alkaline electrolysers in India. This exclusive license empowers RIL to manufacture Nel's alkaline electrolysers globally for captive purposes, presenting a significant advancement in Nel's market reach. The partnership signifies an important milestone in supporting Reliance's global ambitions in renewable hydrogen production and providing Nel with a revenue stream from a rapidly growing market. The agreement allows Reliance to access Nel's established technology platform for electrolysers, combining Nel's expertise with Reliance's execution capabilities. Both companies plan to collaborate on future enhancements, cost efficiencies, and standardization to boost the competitiveness of the alkaline technology platform. Additionally, Nel can source equipment from Reliance for its projects while continuing to serve the Indian market with other technology platforms. Reliance Industries, a Fortune 500 company and India's largest private sector corporation, is known for its focus on technology innovation and large-scale project execution. The vision of RIL's Chairman, Mukesh Ambani, emphasizes the importance of green hydrogen in the new energy value chain, aligning with the partnership's goal of fostering a sustainable energy future. Overall, the agreement between Nel ASA and Reliance Industries showcases a positive outlook on hydrogen technology, emphasizing collaboration, innovation, and market expansion in the pursuit of sustainable energy solutions.